Gray Television Correlations

GTN Stock

USD 5.09 0.07 1.36%

The current 90-days correlation between Gray Television and E W Scripps is 0.67 (i.e., Poor diversification). A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Gray Television moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Gray Television moves in either direction, the perfectly negatively correlated security will move in the opposite direction.

Gray Television Correlation With Market

Very weak diversification

The correlation between Gray Television and DJI is 0.43 (i.e., Very weak diversification) for selected investment horizon. Overlapping area represents the amount of risk that can be diversified away by holding Gray Television and DJI in the same portfolio, assuming nothing else is changed.

Build AI portfolio with Gray Stock

Check out Risk vs Return Analysis to better understand how to build diversified portfolios, which includes a position in Gray Television. Also, note that the market value of any company could be closely tied with the direction of predictive economic indicators such as signals in estimate.

To learn how to invest in Gray Stock, please use our How to Invest in Gray Television guide.

Moving together with Gray Stock

0.68	DLPN	Dolphin Entertainment	Pair Corr
0.77	DIS	Walt Disney	Pair Corr
0.87	EVC	Entravision Communications	Pair Corr
0.65	IAS	Integral Ad Science	Pair Corr
0.9	TSQ	Townsquare Media	Pair Corr
0.7	MCHX	Marchex	Pair Corr
0.9	MGNI	Magnite	Pair Corr
0.79	MSGE	Madison Square Garden	Pair Corr
0.85	NXST	Nexstar Broadcasting	Pair Corr
0.86	QMMM	QMMM Holdings Limited Buyout Trend	Pair Corr
0.63	ABTS	Abits Group	Pair Corr
0.82	SPHR	Sphere Entertainment	Pair Corr
0.87	Z	Zillow Group Class	Pair Corr
0.83	KT	KT Corporation Potential Growth	Pair Corr
0.85	SY	So Young International Trending	Pair Corr
0.75	TU	Telus Corp	Pair Corr
0.63	TV	Grupo Televisa SAB Earnings Call Tomorrow	Pair Corr

Moving against Gray Stock

0.8	NCMI	National CineMedia	Pair Corr
0.61	WPP	WPP PLC ADR	Pair Corr
0.54	ABLV	Able View Global	Pair Corr
0.52	BOC	Boston Omaha Corp	Pair Corr
0.44	NCTY	The9 Ltd ADR	Pair Corr
0.43	WIMI	WiMi Hologram Cloud	Pair Corr
0.54	GDEVW	Nexters Warrant	Pair Corr
0.47	VZ	Verizon Communications Earnings Call Tomorrow	Pair Corr
0.46	STGW	Stagwell	Pair Corr
0.38	ANGHW	Anghami Warrants	Pair Corr
0.35	SJ	Scienjoy Holding Corp	Pair Corr

Related Correlations Analysis

	SSP	GTN-A	TGNA	IHRT	CMLS	NXST	SBGI	EVC
SSP		0.88	0.62	0.9	-0.72	0.73	0.31	0.93	SSP
GTN-A	0.88		0.6	0.9	-0.85	0.81	0.14	0.89	GTN-A
TGNA	0.62	0.6		0.58	-0.54	0.83	0.47	0.55	TGNA
IHRT	0.9	0.9	0.58		-0.89	0.83	-0.02	0.96	IHRT
CMLS	-0.72	-0.85	-0.54	-0.89		-0.88	0.14	-0.83	CMLS
NXST	0.73	0.81	0.83	0.83	-0.88		0.16	0.75	NXST
SBGI	0.31	0.14	0.47	-0.02	0.14	0.16		0.06	SBGI
EVC	0.93	0.89	0.55	0.96	-0.83	0.75	0.06		EVC
	SSP	GTN-A	TGNA	IHRT	CMLS	NXST	SBGI	EVC

Click cells to compare fundamentals

Check Volatility

Backtest Portfolio

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

EVC	+ 0.96	IHRT
EVC	+ 0.93	SSP
IHRT	+ 0.9	SSP
IHRT	+ 0.9	GTN-A
EVC	+ 0.89	GTN-A
GTN-A	+ 0.88	SSP

High negative correlations

CMLS	- 0.89	IHRT
NXST	- 0.88	CMLS
CMLS	- 0.85	GTN-A
EVC	- 0.83	CMLS
CMLS	- 0.72	SSP
CMLS	- 0.54	TGNA

Risk-Adjusted Indicators

There is a big difference between Gray Stock performing well and Gray Television Company doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Gray Television's multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
SSP	4.78	0.57	0.14	0.36	5.02	(5.52)	10.77	(9.40)	37.37
GTN-A	4.18	0.79	0.14	2.57	4.03	(5.73)	11.67	(6.31)	36.54
TGNA	1.27	(0.02)	(0.02)	0.11	1.65	(1.24)	2.57	(3.01)	6.42
IHRT	3.37	0.77	0.20	0.84	3.34	(4.19)	9.09	(5.69)	18.76
CMLS	6.04	(2.40)	0.00	(13.86)	0.00	0.00	8.89	(20.00)	35.45
NXST	1.45	0.17	0.10	0.28	1.53	(1.53)	3.12	(2.85)	8.59
SBGI	1.82	(0.06)	(0.02)	0.07	2.33	(1.80)	3.56	(3.80)	10.63
EVC	2.32	0.27	0.11	0.33	2.30	(3.10)	6.40	(3.57)	17.45

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2025 Macroaxis LLC